CITY OF FORT COLLINS
REFERRED ISSUE 2C
A CITY INITIATED
MEASURE PROPOSING A 0.25 PERCENT INCREASE IN CITY SALES AND USE TAXES AND A PROPOSED 1% CONSTRUCTION EXCISE TAX TO FUND CERTAIN TRANSPORTATION CAPITAL IMPROVEMENT PROJECTS
SHALL CITY OF FORT COLLINS TAXES BE INCREASED BY AN ESTIMATED $9.1 MILLION FOR THE FIRST FULL FISCAL YEAR AND BY SUCH AMOUNTS AS MAY BE GENERATED ANNUALLY THEREAFTER BY:
- AN INCREASE IN THE RATE OF SALES AND USE TAXES OF 0.25 PERCENT (25¢ ON A $100 PURCHASE), TO BE IMPOSED ON ALL TAXABLE ITEMS EXCEPT FOOD, TO COMMENCE JANUARY 1, 2003, AND TO EXPIRE DECEMBER 31, 2022; AND
- THE IMPOSITION OF AN EXCISE TAX UPON THE ISSUANCE OF BUILDING PERMITS FOR ALL NEW CONSTRUCTION AND RECONSTRUCTION IN THE CITY EXCEPT FOR RESIDENTIAL REMODELING PROJECTS THAT DO NOT CREATE ADDITIONAL DWELLING UNITS AND COMMERCIAL AND INDUSTRIAL REMODELING PROJECTS THAT DO NOT ADD SQUARE FOOTAGE, AND EXCEPT FOR QUALIFIED AFFORDABLE HOUSING PROJECTS, AT THE RATE OF ONE PERCENT (1.00%) OF THE COST OF SUCH CONSTRUCTION OR RECONSTRUCTION, TO COMMENCE APRIL 1, 2003, AND TO EXPIRE MARCH 31, 2023
WITH THE PROCEEDS OF SUCH NEW TAXES, TOGETHER WITH INVESTMENT EARNINGS THEREON, TO BE USED TO PAY FOR THE PLANNING, DESIGN, ACQUISITION AND CONSTRUCTION OF CERTAIN TRANSPORTATION CAPITAL IMPROVEMENT PROJECTS, TO BE DESIGNATED BY THE CITY COUNCIL NO LESS THAN ONCE EVERY FOUR (4) YEARS AS THE HIGHEST PRIORITY TRANSPORTATION PROJECTS SHOWN ON A TWENTY (20) YEAR TRANSPORTATION MASTER PLAN, WITH THE FIRST PROJECTS SO DESIGNATED TO INCLUDE, BUT NOT BE LIMITED TO, THE FOLLOWING:
- THE WIDENING AND IMPROVEMENT OF TIMBERLINE ROAD FROM DRAKE ROAD TO PROSPECT ROAD;
- THE IMPROVEMENT AND EXTENSION OF THE MASON STREET TRANSPORTATION CORRIDOR;
- AN OVERPASS OR UNDERPASS AND OTHER IMPROVEMENTS TO LEMAY AVENUE NEAR THE INTERSECTION OF VINE DRIVE;
- OTHER INTERSECTION IMPROVEMENTS THROUGHOUT THE CITY;
WITH EACH SUCH PROJECT TO BE CONTINGENT UPON THE AVAILABILITY OF SUFFICIENT LOCAL, STATE AND/OR FEDERAL FUNDS TO COMPLETE THE PROJECT AND WITH THE SCOPE, COST AND SCHEDULING OF EACH PROJECT TO BE DETERMINED BY THE CITY COUNCIL; AND SHALL THE CITY OF FORT COLLINS BE AUTHORIZED TO COLLECT AND EXPEND ALL OF THE PROCEEDS OF SUCH TAX INCREASES AND INVESTMENT EARNINGS THEREON, NOTWITHSTANDING ANY APPLICABLE LIMITATION ON REVENUES AND EXPENDITURES, INCLUDING THE LIMITATIONS SET FORTH IN ARTICLE X, SECTION 20 OF THE COLORADO CONSTITUTION?
_____ YES
_____ NO
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